HomeMy WebLinkAbout1998-08-13 - Resolution No. 98-10• •
RESOLUTION NO. 98-10
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
ADOPTING FISCAL YEAR 1998-99
DEBT SERVICE REQUIREMENT FOR
IMPROVEMENT DISTRICT NO. 2 SERIES "A",
1987 REFUNDING AND
SERIES "C" GENERAL OBLIGATION BONDS
WHEREAS, on June 13, 1978 the Yorba Linda Water District obtained voter authorization for
the establishment of Yorba Linda Water District Improvement District No. 2
(I.D.-2) and for the issuance of $41,660,000 in general obligation bonds to pay
for water production, storage and transmission facilities to serve I.D.-2; and,
WHEREAS, on April 26, 1979 the Yorba Linda Water District issued and sold Series "A"
I.D.-2 Water Bonds in the face amount of $1,005,000; and
WHEREAS, on May 1, 1984 the Yorba Linda Water District issued and sold Series "B" I.D.-2
Water Bonds in the face amount $10,000,000; and,
WHEREAS, on February 1, 1987 the Yorba Linda Water District issued and sold "1987
Refunding Bonds" to provide for the advance refunding of $9,795,000 principal
amount of outstanding 1979 Series "B" Bonds in the face amount of
$11,915,000; and,
WHEREAS, on March 8, 1990, the Yorba Linda Water District issued and sold Series "C"
I.D.-2 Water Bonds in the face amount of $6,000,000; and,
WHEREAS, the Yorba Linda Water District is obligated to make principal and interest
payments on such bonds from revenue sources available to the District; and,
WHEREAS, the debt service requirements for Fiscal Year 1998-99 have been presented to and
reviewed by the Board of Directors of the District,
NOW THEREFORE BE IT RESOLVED by the Board of Directors of the Yorba Linda Water
District as follows:
Section 1. The Fiscal Year 1998-99 Bond interest and Redemption requirement for YLWD
I.D.-2 Series "A", Refunding Bonds and Series "C" General Obligation Bonds, as
shown on Exhibit "A" attached hereto, and by this reference incorporated herein, is
hereby approved and adopted.
Section 2. The District elects to have the County of Orange Auditor-Controller collect
$1,744,352 on the tax roll in the same manner, by the same persons, and at the
same time as, and together with and not separately from County taxes for the
purposes of retiring voter approved debt.
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c:
Section 3. The General Manager or his designee is authorized and directed to file with the
County of Orange Auditor-Controller a copy of this resolution together with any
such documentation the County Auditor-Controller may require in order to
accomplish the purposes of this resolution.
PASSED AND ADOPTED this 13th day of August, 1998, by the following called vote:
Ayes:
Fox, Scanlin,
Armstrong, Beverage, and Korn
Noes:
None
Absent:
None
Abstain:
None
President, Sterling L. Fox
Yorba Linda Water District
ATTEST:
n
Secreta , Wil WRoberts'
Yorb
a Linda Water District
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